Accountıng I Deneme Sınavı Sorusu #1313655
Which is not a step of the journalizing and posting process?
Which is not a step of the journalizing and posting process?
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Identify the accounts and the account types (asset, liability, or equity) |
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Record the transaction in the journal |
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Determine whether the accounting equation is in balance |
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Decide numerical identifications of the accounts which are used later in posting |
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Post the journal entry to the ledger |
Yanıt Açıklaması:
The journalizing and posting process has five steps:
Step 1: Identify the accounts and the account types (asset, liability, or equity).
Step 2: Decide whether each account increases or decreases and then apply the rules of debits and credits.Step 3: Record the transaction in the journal.
Step 4: Post the journal entry to the ledger.
Step 5: Determine whether the accounting equation is in balance.
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